"Through negotiations to improve KORUS, the United States has secured changes that will reduce the trade deficit and ensure that KORUS is a good deal for American workers, farmers and businesses", it said, adding that the U.S. achieved important steps to improve the large trade deficit in industrial goods and address the KORUS implementation concerns that have hindered American export growth.

Trump has withdrawn the USA from the Iran nuclear deal, the Paris climate accord and an Asia-Pacific trade pact, while imposing steep tariffs on both allies and adversaries. "We only ask that you honor our sovereign rights in return".

"We, the Presidents of the Republic of Korea and the United States of America, hereby reaffirm our close alliance and the importance of maintaining strong, mutually beneficial trade and economic ties between our peoples", the leaders said in a joint statement issued at the end of their bilateral summit in NY.

Trump said the United States would take a "hard look" at foreign assistance, reviewing where the country spends its money now. "Iran's leaders plunder the nation's resources to enrich themselves and to spread mayhem across the Middle East and far beyond.The dictatorship used the funds to build nuclear-capable missiles ... Makes me feel very good, I love our farmers", Trump said, adding that the deal would double the cars per manufacturer that can enter the South Korean market while meeting USA safety standards.

Mr Trump's national security adviser, John Bolton, addressing a group called United Against a Nuclear Iran, called the 2015 accord "the worst diplomatic debacle in American history" and had a warning for "the mullahs in Tehran".

Trump administration officials also upped their rhetoric against Iran in separate remarks in NY on Tuesday.

In August, the U.S. reinstated sanctions targeting the Iranian government's purchase of United States dollars, Iran's trade in gold and other precious metals, and its automotive sector.

The system would facilitate oil companies and businesses to continue trading without relying on the US-led global market and dollar, but exactly how the system would work is still being determined.

"We reject the ideology of globalism", the president told the world body.

Trump spent the first few minutes of his speech talking up the USA economy and sinking unemployment figures.

Trump withdrew the us from a nuclear agreement between Iran and world powers and reinstated economic sanctions on Iran.

Trump opened his address with boasts of United States economic and military might and a rejection of "global governance".

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